Usage of Trade

Definition - What does Usage of Trade mean?

In relation to the Uniform Commercial Code, usage of trade can be defined as any method or practice of dealing with a certain regularity of observance in a vocation, place or trade.

Usage of trade must justify the fact that it will be in use only for the transaction in question.

Justipedia explains Usage of Trade

The scope and existence of usage of trade must also be established as facts. The interpretation of records, however, is something related to the law, especially when it has been established that the type of usage is embodied in records such as trade codes.

Share this:

Connect with us

Find a Lawyer